Ireland sets tax — free threshold of €50,000 on new investment accounts

DUBLIN, Oct 6 (Reuters) — Ireland's new new personal savings and investment scheme will have a tax-free threshold of €50,000 ($56,345), above which a flat rate 1% will be applied, Finance Minister Simon Harris told parliament on Tuesday. Savers will be allowed to contribute a maximum of €12,000 to the accounts each year, Harris added. ($1 = 0.8874 euros) (Reporting by Graham Fahy; editing by Sarah Young) ((graham.fahy@thomsonreuters.com;)